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Wearable Medical Devices Market Size Worth $111.9 Billion By 2028: Grand View Research, Inc.

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The global wearable medical devices market size is expected to reach USD 111.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 26.8% from 2021 to 2028. Rising demand for hi-tech products and continuous health monitoring is fueling market growth.

Key suggestions from the report:

  • The diagnostic devices segment dominated the market in 2020 owing to the increasing disposable income and awareness, and higher healthcare spending
  • The strap/clip/bracelet segment dominated the market in 2020 and is expected to continue its dominance over the forecast period
  • Home healthcare held a significant share of 54.0% in 2020 owing to the growing base of geriatric population triggering incidence rates of target diseases
  • North America is projected to command for a cumulative share in 2020 due to the increasing application of home care and remote patient monitoring for the purpose of regular, continuous, and long-term monitoring of patients
  • Asia Pacific is expected to witness the fastest growth rate over the forecast period. This growth can be attributed to the growing awareness level, increasing disposable income, presence of a large population base and rising incidence rate of chronic conditions

Read 150 page research report with ToC on “Wearable Medical Devices Market Size, Share & Trends Analysis Report By Type (Diagnostic, Therapeutic), By Site (Handheld, Headband, Strap, Shoe Sensors), By Application, By Region, And Segment Forecasts, 2021 – 2028 – 2028” at: https://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market

Increasing obesity rate coupled with rising awareness about physical fitness is encouraging people to go for workouts and adopt other fitness-related activities. Wearable devices such as smart bands and smartwatches help in monitoring fitness parameters consisting of calories burned, footstep count, heart rate and distance covered. Moreover, these wearable devices companies offer guidance from experts who are certified dietician or nutrition, and hence, this business model is also generating hefty demand for these ancillary products and services.

Companies such as Google, Fitbit, Apple, and Nike are working towards the launch of new innovative products that are anticipated to boost market growth over the forecast period, thus portraying a high growth rate. Smart watches and wristbands are the current focal point of product development and innovation, leading to abundant availability of such instruments. For instance, HealthPatch, a product of Vital Connect, was launched in March 2014. The product is an adhesive patch that can be placed anywhere on the chest and is used to regulate biometrics such as heart rate, skin temperature, body posture, and activities like steps walked.

The COVID-19 pandemic somehow has a positive impact on the market owing to increasing demand for telemedicine. As per the WHO guidelines people should follow social distancing and avoid public gathering. Hence due to this reason various physicians are preferring telemedicine route so that they can treat patients from distance without spreading the virus. Growth of telemedicine and expansion of applications to Integrate artificial intelligence (AI) in its systems has led to market growth.

Grand View Research has segmented the global wearable medical devices market based on product, site, application, and region:

  • Wearable Medical Devices Product Outlook (Revenue, USD Billion, 2016 – 2028)
    • Diagnostic Devices
      • Vital Sign Monitoring Devices
        • Heart Rate Monitors
        • Activity Monitors
        • Electrocardiographs
        • Pulse Oximeters
        • Spirometers
        • Blood Pressure Monitors
        • Others
      • Sleep Monitoring Devices
        • Sleep trackers
        • Wrist Actigraphs
        • Polysomnographs
        • Others
      • Electrocardiographs Fetal And Obstetric Devices
        • Neuromonitoring Devices
        • Electroencephalographs
        • Electromyographs
        • Others
    • Therapeutic Devices
      • Pain Management
        • Neurostimulation
        • Others
      • Insulin/Glucose Monitoring
        • Insulin Pumps
        • Others
      • Rehabilitation
        • Accelometers
        • Sensing
        • Ultrasound Platform
        • Others
      • Respiratory Therapy
        • Ventilators
        • Positive Airway Pressure (PAP) Devices
        • Portable Oxygen Concentrators
        • Others
  • Wearable Medical Devices Site Outlook (Revenue, USD Billion, 2016 – 2028)
    • Handheld
    • Headband
    • Strap/Clip/Bracelet
    • Shoe Sensors
    • Others
  • Wearable Medical Devices Application Outlook (Revenue, USD Billion, 2016 – 2028)
    • Sports And Fitness
    • Remote Patient Monitoring
    • Home Healthcare
  • Wearable Medical Devices Regional Outlook (Revenue, USD Billion, 2016 – 2028)
    • North America
      • U.S.
      • Canada
    • Europe
      • France
      • Germany
      • U.K.
      • Italy
      • Spain
      • Sweden
      • Russia
      • Netherlands
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Australia
      • Singapore
      • Thailand
      • Philippines
      • Malaysia
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE

List of Key Players of Wearable Medical Devices Market

  • Philips Electronics
  • Fitbit
  • Basis Science
  • Garmin
  • Covidien
  • Omron Corp.
  • Withings
  • Vital Connect
  • Polar Electro
  • Intelesens
  • Everist Genomics
  • Intelesens
  • Sotera Wireless

Find more research reports on Medical Devices , by Grand View Research:

  • Smart Fitness Market  The global smart fitness market size was valued at USD 6.03 billion in 2016 and is expected to gain traction over the forecast period owing to its rapid adoption among the individuals to track their fitness activities.
  • Medical Electronics Market  The global medical electronics market was estimated to be around USD 94 billion in 2015 and is projected to grow at a CAGR of 7.9% over the next nine years.
  • Hi-Tech Medical Devices Market  The global hi-tech medical devices market size was estimated at USD 24.95 billion in 2017. It is anticipated to register a CAGR of 29.8% during the forecast period.

Artificial Intelligence

Computime announces the launch of one of the first true Matter thermostats

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HONG KONG, May 27, 2024 /PRNewswire/ — Computime Group, a leading innovator in manufacturing, branded products and technology solutions, is proud to announce the upcoming launch of one of the first true Matter thermostats. This milestone highlights our commitment to pioneering smart home technology and providing our OEM and ODM customers with state-of-the-art solutions. 

Matter is set to revolutionize the Internet of Things (IoT) landscape as the next-generation standard for connected devices. Developed by the Connectivity Standards Alliance, Matter offers an open, universal protocol that is not bound to any single ecosystem, providing consumers with unparalleled freedom and flexibility. It ensures privacy-sensitive, secure, and reliable local controls without the need for cloud dependency, addressing the growing demand for enhanced privacy and security in smart home devices. 
The key principles driving Matter’s development include simplicity, reliability, interoperability, and security. By ensuring that all Matter-certified devices work seamlessly together, Matter eliminates the complexities often associated with smart home technology. This leads to greater compatibility, easier setup, and more robust user experiences across various device types, including thermostats.
Computime’s Matter thermostat represents a significant advancement in smart home technology, providing our customers with cutting-edge solutions and a short lead time to market, to meet the growing demand for interconnected and efficient home environments. We invite our customers to explore the capabilities of our new thermostat solutions. Computime’s extensive expertise in developing and manufacturing smart home devices ensures that our customers receive high-quality, reliable products with a short lead-time that stand out in the competitive market.
CONTACT: Computime Group, [email protected]

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GVG featured on the 2024 Africa RegTech Horizon-100 list

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MADRID, May 27, 2024 /PRNewswire/ — Global Voice Group (GVG) now features as one of the top 100 Africa-focused innovative RegTech organizations that are set to power Africa to a $1 billion market size by 2025. 

This acknowledgment bears witness to GVG’s compliance monitoring capabilities within the Mobile Money (MM) ecosystem. GVG developed the Mobile Money Monitoring (M3) solution, an intelligent data platform that supports East African regulatory authorities in monitoring the fast-expanding MM market. Through M3, the authorities can ensure the security and integrity of the related financial transactions, as well as transparency and compliance, for enhanced revenue assurance. M3 currently monitors approximately 25% of the financial flows passing through MM platforms in East Africa, verifying over 90 billion USD worth of transactions annually.
Moreover, the platform is also in use in Central and West Africa, in the Republic of Congo and in Ghana. In Congo, M3 has brought the local telecommunications regulator, the ARPCE, 100% visibility and control over all utility payments made via Mobile Money to the government. In Ghana, it has contributed to an average annual growth of 20% in revenue since its deployment. Overall, M3 has captured, verified and analyzed 1 trillion USD in MM transaction value since 2014.
After demonstrating the relevance, effectiveness, and innovation of the M3 solution to the jury, composed of recognized leaders of the Regtech industry, GVG was shortlisted and, following the voting phase, earned a place on the prestigious list. The M3 platform uses machine learning to ensure effective oversight of the MM market, ensure regulatory compliance and detect suspicious transactions. Since its first implementation in 2013, GVG’s M3 solution has provided the relevant regulatory authorities with reliable MM ecosystem metrics to support data-driven decision-making, promote compliance within the market, and reduce fraud and revenue leakage.
Responding to the announcement, James Claude, GVG’s CEO, declared: “It is with a great sense of achievement that I see GVG featuring among the 100 top RegTech providers in Africa. On behalf of the whole company, I sincerely thank Africa RegTech Horizon, as well as our voters, for supporting us in what we do best: providing governments and regulatory authorities with the market insights they need to address the challenges related to the fast-expanding financial ecosystem.”
The Africa RegTech Horizon-100 list is a directory of African RegTech companies and solution providers compiled to showcase the products and services of the latter, as well as assist financial institutions, regulators, and governments in identifying high-performing and trustworthy RegTech providers.
About GVG
Founded in 1998 and present in 11 countries, Global Voice Group is a global provider of ICT and RegTech solutions for governments and regulatory bodies. GVG assists governments and authorities, through Big Data analytics, in their digital transformation and the effective promotion of compliant and truly inclusive digital ecosystems. The company monitors, collects and analyses data from crucial economic sectors and turns it into actionable information. We promote data-driven decision-making.
Discover GVG’s website: www.globalvoicegroup.com
Photo – https://mma.prnewswire.com/media/2421578/Global_Voice_Group_2024.jpg

View original content:https://www.prnewswire.co.uk/news-releases/gvg-featured-on-the-2024-africa-regtech-horizon-100-list-302155235.html

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Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT

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HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.

Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
Photo – https://mma.prnewswire.com/media/2421983/image.jpg
Photo – https://mma.prnewswire.com/media/2421640/Live4Well.jpg
Logo – https://mma.prnewswire.com/media/2421641/4725441/Live4Well.jpg
 
 

View original content:https://www.prnewswire.co.uk/news-releases/unlock-an-exclusive-olympic-experience-celebrating-live4wells-sold-out-genesis-nft-302155644.html

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